Federated Hermes Inc. Has $3.44 Million Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Federated Hermes Inc. reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 83.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,894 shares of the casino operator's stock after selling 194,125 shares during the quarter. Federated Hermes Inc.'s holdings in Wynn Resorts were worth $3,437,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd boosted its position in Wynn Resorts by 1,137.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 3,935 shares of the casino operator's stock worth $339,000 after acquiring an additional 3,617 shares during the period. Titleist Asset Management LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $3,036,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Wynn Resorts in the fourth quarter worth $2,270,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $2,418,000. Finally, Integrated Quantitative Investments LLC purchased a new position in Wynn Resorts in the fourth quarter valued at about $353,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Tilman J. Fertitta acquired 300,000 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $70.37 per share, for a total transaction of $21,111,000.00. Following the acquisition, the insider now owns 12,900,000 shares in the company, valued at approximately $907,773,000. The trade was a 2.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 438,700 shares of company stock valued at $31,300,943. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 1.4 %

WYNN stock traded up $1.04 during midday trading on Friday, hitting $74.77. The stock had a trading volume of 1,559,528 shares, compared to its average volume of 2,462,134. The stock has a 50-day simple moving average of $82.77 and a 200 day simple moving average of $88.15. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.34%. Wynn Resorts's dividend payout ratio is 23.75%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WYNN. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Morgan Stanley decreased their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Macquarie reiterated an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $119.58.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.